Consolidated Edison Inc $ED Shares Bought by AIA Group Ltd

AIA Group Ltd lifted its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 99.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,786 shares of the utilities provider’s stock after buying an additional 23,337 shares during the period. AIA Group Ltd’s holdings in Consolidated Edison were worth $4,703,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. JPL Wealth Management LLC acquired a new stake in Consolidated Edison in the third quarter worth about $26,000. Salomon & Ludwin LLC increased its stake in Consolidated Edison by 270.4% during the 3rd quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock valued at $30,000 after buying an additional 219 shares during the period. Turning Point Benefit Group Inc. bought a new stake in shares of Consolidated Edison during the 3rd quarter worth about $32,000. Palisade Asset Management LLC acquired a new stake in shares of Consolidated Edison in the 3rd quarter worth approximately $37,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Consolidated Edison in the 3rd quarter worth approximately $38,000. 66.29% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Deneen L. Donnley sold 1,922 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $113.94, for a total value of $218,992.68. Following the completion of the sale, the senior vice president owned 32,453 shares of the company’s stock, valued at $3,697,694.82. This trade represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.19% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently commented on ED. Scotiabank raised their price objective on shares of Consolidated Edison from $113.00 to $117.00 and gave the company a “sector perform” rating in a research note on Friday, February 20th. KeyCorp increased their price target on Consolidated Edison from $86.00 to $96.00 and gave the company an “underweight” rating in a research note on Wednesday, March 4th. TD Cowen lifted their price target on Consolidated Edison from $105.00 to $112.00 and gave the company a “hold” rating in a research report on Tuesday, February 24th. Morgan Stanley restated an “underweight” rating and issued a $102.00 price objective on shares of Consolidated Edison in a report on Friday, February 20th. Finally, Mizuho set a $118.00 target price on Consolidated Edison in a research note on Monday, February 23rd. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $108.80.

Consolidated Edison Price Performance

NYSE ED opened at $111.57 on Friday. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $116.23. The business’s fifty day moving average is $108.73 and its two-hundred day moving average is $102.31. The stock has a market capitalization of $40.30 billion, a P/E ratio of 19.75, a P/E/G ratio of 2.90 and a beta of 0.38. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 1.02.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the previous year, the firm posted $0.98 EPS. The company’s quarterly revenue was up 8.9% on a year-over-year basis. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, research analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Wednesday, February 18th were issued a $0.8875 dividend. The ex-dividend date was Wednesday, February 18th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.85. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.2%. Consolidated Edison’s dividend payout ratio is currently 62.83%.

About Consolidated Edison

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.